Ucore Rare Metals Inc. V.UCU

1/2 hour Analyst Q&A this AM w/ MP CEO on rare earth biz

[VeritasBob]

Need to register, which puts you immeidately through to the recording.
https://wsw.com/webcast/dadco64/register.aspx?conf=dadco64&page=mp&url=https://wsw.com/webcast/dadco64/mp/1602545

MP Materials CEO James Litinisky interviewed by D.A. Davidson analyst Matt Summerville this morning as part of D.A. Davidson's 22nd Annual Diversified Industrials & Services Conference. Discusses MP's status, what's going on with the rare earth industry, etc. A lot of focus on cost. No mention of RSX (Litinisky being an ostrich? Yeah, maybe not). MP is separating rare earths now and is ramping up, but no statement as to when it will achieve its 20,000 tpa run rate. Mentions Lynas as having the only other rare earth mine and separation business of any signficance outside China. A lot of rare earths mined in Myanmar by environmentally ultra-unfriendly methods (which would not even be allowed in China, let alone U.S., Canada, Australia) and sent to China for processing.

Of course, you shoudl listen through the filter that Litinsky is somewhat biased and trying to put the best face forward for MP.

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Who knew tuning a chemical engineering plant is hard? Apparently not Pat Ryan, but maybe he does now. It is NOT just writing chenical reaction equations on a chalkboard, as farm claimed. Even less so when the process is new and different (as is RSX). And if RSX is not new and different from SX, it can't be 2 or 3 times faster.

[VeritasBob]

Clickable link: [url=https://wsw.com/webcast/dadco64/register.aspx?]https://wsw.com/webcast/dadco64/register.aspx?[/url]

[VeritasBob]

[url=https://wsw.com/webcast/dadco64/register.aspx?]https://wsw.com/webcast/dadco64/register.aspx?[/url]

[PipinoCuevas]

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[VeritasBob]

I didn't say RSX is not 2-3x faster. My point is that if it is, then the process constrol is different than SX, despite some people claiming it's the same bercause it uses the same reagents. Can't have it both ways.

[PipinoCuevas]

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[VeritasBob]

Got in in 2021, after MRT debacle and IMC acquisition. Chnaged my assessment when Hatch et al were fired - figured good chance something isn't good.

[PipinoCuevas]

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[VeritasBob]

After the firing, I feared one or both of a) Ryan pissed at bad independent RSX test results or b) Ryan wanted to claim bigger RSX speedup & cost savings than Hatch et al would put their name on. Mark M characterized it as a dispute between Hatch et al and Ryan, so per him it was for the best that Hatch et al go. Maybe true, but I figured that whatever caused the dispute was something bad. I

[PipinoCuevas]

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[VeritasBob]

Mining has a long, checkered history, and has always attracted sleaze buckets. Mark Twain: "A mine is a hole in the ground with a liar standing next to it". Caveat Emptor.

[PipinoCuevas]

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[VeritasBob]

Been a lot of reverse stock splits lately for NASDAQ stocks under a buck to maintaiin their listing. In many cases, they lose 1/2 ro 3/4 of their value within a few weeks of the reverse split.

[VeritasBob]

And many of these were SPAC stocks which started life a couple of years ago at 10 bucks a share.

[PipinoCuevas]

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